BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $122.00 at SVB Leerink

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) had its price objective boosted by stock analysts at SVB Leerink from $115.00 to $122.00 in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. SVB Leerink’s target price suggests a potential upside of 27.32% from the stock’s previous close.

Several other research analysts have also issued reports on BMRN. Barclays increased their price objective on BioMarin Pharmaceutical from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Morgan Stanley raised BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $96.00 to $113.00 in a research report on Monday, April 25th. StockNews.com lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Finally, Wedbush reissued a “hold” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, June 24th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $110.40.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $95.82 on Thursday. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical has a twelve month low of $70.73 and a twelve month high of $96.50. The company has a market capitalization of $17.73 billion, a price-to-earnings ratio of 368.55, a PEG ratio of 1.92 and a beta of 0.33. The firm has a 50-day moving average of $82.81 and a two-hundred day moving average of $82.21.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last released its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.80% and a net margin of 2.83%. During the same period in the prior year, the company earned $0.23 EPS. As a group, analysts expect that BioMarin Pharmaceutical will post 0.97 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Jeffrey Robert Ajer sold 1,308 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $78.94, for a total transaction of $103,253.52. Following the transaction, the executive vice president now directly owns 54,109 shares of the company’s stock, valued at $4,271,364.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 7,337 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the transaction, the chief financial officer now owns 30,726 shares in the company, valued at $2,749,977. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of the business’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the sale, the executive vice president now directly owns 54,109 shares of the company’s stock, valued at approximately $4,271,364.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,043 shares of company stock valued at $1,425,735. Insiders own 1.75% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently bought and sold shares of BMRN. Kinneret Advisory LLC lifted its holdings in shares of BioMarin Pharmaceutical by 2.2% in the 2nd quarter. Kinneret Advisory LLC now owns 5,213 shares of the biotechnology company’s stock worth $432,000 after acquiring an additional 110 shares during the last quarter. CKW Financial Group lifted its holdings in BioMarin Pharmaceutical by 23.1% during the 1st quarter. CKW Financial Group now owns 800 shares of the biotechnology company’s stock worth $63,000 after buying an additional 150 shares in the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in BioMarin Pharmaceutical by 3.9% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 4,352 shares of the biotechnology company’s stock worth $384,000 after buying an additional 165 shares in the last quarter. Evoke Wealth LLC lifted its holdings in BioMarin Pharmaceutical by 9.1% during the 4th quarter. Evoke Wealth LLC now owns 2,071 shares of the biotechnology company’s stock worth $183,000 after buying an additional 173 shares in the last quarter. Finally, Commerce Bank lifted its holdings in BioMarin Pharmaceutical by 3.8% during the 1st quarter. Commerce Bank now owns 5,419 shares of the biotechnology company’s stock worth $418,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

About BioMarin Pharmaceutical

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BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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